Your Source for Estate Planning, Asset Protection and Business Transactions for over 35 years!

Holding Title

UncategorizedNo Comments

One of the decisions that you will be asked to make as you are completing the purchase of real property in California, is how you are going to hold title to the property (the vesting). The vesting will appear on the Deed of Trust and the Grant Deed, which are recorded documents in the county where the property is located such as Los Angeles County, Ventura County, Orange County or Santa Barbara County. Usually, your escrow officer or lender, or possibly both, will ask you how you want to hold title. The manner in which you hold title may have significant legal and tax consequencesSome of the issues that you should consider will be explored in this blog.

SOLE OWNERSHIP

Real property in California can be owned in either Sole Ownership or in Co-Ownership. There are three options for holding property as a Sole Owner:

A Single Man or Woman, defined as a man or woman who has never been married.An Unmarried Man or Woman, defined as a man or woman who has been married in the past, but is now legally divorced or is widowed.

A Married Man/Woman, as His/Her Sole and Separate Property, defined as a married man or woman who wishes to acquire title in his or her name alone.

In California, any assets that are acquired during marriage become community property, (i.e., belonging to both spouses), unless they are specifically acquired as separate property. Real property that is conveyed to a married man or woman is considered community property, unless it is stated otherwise. In order for a married individual to acquire title in his or her name only, the spouse must relinquish all right, title and interest to the property. Usually, this is done by executing a Quitclaim Deed to the property, which is recorded concurrently with the deed to the property.

CO-OWNERSHIP

For residential property, the primary methods for holding title are Community Property, Joint Tenancy, and Tenancy in Common. Tenancy in Partnership will not be addressed in this article.

Community Property

When the title to property is held by a married couple as community property in California, each spouse has equal rights of management and control of the property and the right to include half of the community property in his or her will. If the first spouse dies without a will or leaves the property to the surviving spouse, the property will go to the surviving spouse and no probate is necessary. If a spouse exercises the right to leave one half of the property to someone other than the surviving spouse, that half is subject to administration in the estate.

With California community property, on the death of the first spouse, both spouses’ half interests in the property will get an income tax basis adjustment to fair market value. For example, if the property was purchased for $100,000 and is worth $300,000 at the time of the first spouse’s death, the surviving spouse will get a stepped-up basis to $300,000 for tax purposes.

One issue to be aware of is that when property is purchased with one spouse’s separate property, the separate property becomes community property. For example, suppose John and Mary purchase a house shortly after they are married. Mary provides the $20,000 down-payment from savings she accumulated prior to the marriage. If title to the property is held as community property, the $20,000 becomes community property. In essence, Mary has just given John a gift of 50% of the separate property, or $10,000. Similarly, if Mary’s parents gave her a $20,000 gift to use as the down-payment on the property, these funds would also become community property.

Community Property With Right of Survivorship

As of July 1, 2001, a new California law provides for a right of survivorship for a married couple while owning a home or other real estate as community property. This would mean that when one spouse dies, the other spouse will own the home outright just as with joint tenancy (assuming proper filing is done) and receive a “stepped-up basis” (an income tax basis adjustment to fair market value for the entire home) for capital gains tax purposes if it has appreciated in value. The problem with this form is that when the survivor dies, property must then go through probate to get to the beneficiary.

Joint Tenancy

The primary characteristic of joint tenancy is the right of survivorship. When one joint tenant dies, his/her interest in the property is equally distributed to the remaining joint tenants. The property does not become part of the individual’s estate, so it does not have to go through probate. This means that the transfer of property is easy, but it also means that the individual cannot include the interest in the property in his/her will. It also means that when a married couple own property as joint tenants, it will go through probate when both spouses are deceased; avoiding probate under this circumstance by putting children on title as joint tenants is fraught with many problems.

If unmarried individuals hold title as joint tenants and one owner dies, the property will automatically transfer to the co-owner. As with community property, any separate funds that were used to purchase the property become the property of the surviving owner. Unlike community property, only the decedent’s half interest in the property receives a basis adjustment. Using the example of a property purchased by a married couple for $100,000 which is worth $300,000 when the first spouse dies, the adjusted basis for the surviving spouse would be $200,000 ($150,000 for the decedent’s half, plus $50,000 for the surviving spouse’s half). The problem with this form is that when the survivor dies, property must then go through probate to get to the beneficiary.

Tenancy In Common

Under tenancy in common in California, the co-owners own undivided interests, but unlike joint tenancy, these interests are not necessarily equal. For example, three individuals could hold title jointly, with one person having a 50% interest and each of the other two having a 25% interest. Each co-owner can sell, convey, or mortgage his or her interest without the consent of the co-owners. The new owner simply becomes a tenant-in-common with the other owners. When property is held as tenants-in-common, there is no right of survivorship. So unlike joint tenancy, the disposition of the property can be specified in the owner’s will. The problem with this form is that when the survivor dies, property must then go through probate to get to the beneficiary.

A California Revocable Living Trust

Both single and married persons may hold title in a California Revocable Living Trust. One of many benefits is probate avoidance upon death. The transfer of ownership to the surviving spouse or to beneficiaries after one’s death is very easily done and with minimal expense.

Summary

Before deciding how to hold title, you should consider your intent and what you want to happen to the property in the event of your death. If you are unsure how to proceed,

Your California legal and financial planning experts are at your service; Contact us today.

Thank You for Attending Our Client Open House

UncategorizedNo Comments

Jeff and Tim were honored that so many of you took the time out of your busy schedules to spend the evening with Matsen Voorhees Law.  We had tasty chocolate and cheese fondue and enjoyed a fabulous selection of wine.  Guests also had the opportunity to hear from Jeff and Tim about Matsen Voorhees Law’s services and meet the other friendly attorneys, paralegals, and staff who make up our team.  Thank you again for coming, and we hope to see you all again soon!

Event from www.VideoCC.com on Vimeo.

Help is available to you by contacting your Southern California financial planning experts today.

Matsen to Present at The STEP Institute, a collaboration between the Orange County Chapter of STEP and UCI’s School’s of Law and Business.

UncategorizedNo Comments

STEP Orange County has recently announced that attorney Jeffrey R. Matsen of Matsen Voorhees Law in Orange County, California will be a principal speaker at the “STEP Institute On Tax, Estate Planning And The Economy” to be held on January 24and 25, 2013 at the Newport Beach, California, Marriott.  STEP is an acronym for the Society of Trust and Estate Practitioners which is the leading worldwide professional body for practitioners in the field of trusts, estates and related issues.  The STEP Institute is a collaboration between the Orange County Chapter of STEP and the University of California at Irvine School of Law and Paul Merage School of Business.

Mr. Matsen is one of the leading authorities in the country on Estate and Asset Protection Planning and he will address the STEP Institute on the subject of “Offshore Asset Protection Trusts: Techniques, Trends, Trans, Tips and Traps”.  Mr. Matsen has recently published his book, The Ladder of Success: An Asset Protection Planning Primer and has given several national and international seminars on the subject of Estate and Asset Protection Planning.  Mr. Matsen is a frequent instructor for California Continuing Education of the Bar programs and has authored numerous articles dealing with the issues in his Estate and Asset Protection Planning practice.

“We are delighted that Jeff has agreed to speak at our STEP Institute” stated Mark Silberfarb, Chairman of STEP OC.  “Jeff will be a great addition to what is already a very distinguished faculty for our Program.”

Help is available to you by contacting  your Southern California financial planning experts today.

Last Will and Testament of Thomas Jefferson

UncategorizedNo Comments

vc216t Last Will and Testament of Thomas JeffersonThomas Jefferson, the third President of the United States and author of the Declaration of Independence, died on July 4, 1826 – exactly 50 years after the signing of that Declaration.  A review of Jefferson’s last will and testament provides interesting insight into his life and times – including provisions both in his will and his codicil that his son-in-law be bypassed because of creditor problems:

I Thomas Jefferson of Monticello in Albemarle, being of sound mind and in my ordinary state of health, make my last will and testament in manner and form as follows.

I give to my grandson Francis Eppes, son of my dear deceased daughter Mary Eppes, in fee simple, all that part of my lands at Poplar Forest lying West of the following lines, to wit, Beginning at Radford’s upper corner near the double branches of Bear creek and the public road, & running thence in a straight line to the fork of my private road, near the barn, thence along that private road (as it was changed in 1817) to it’s crossing of the main branch of North Tomahawk creek, and, from that crossing, in a direct line over the main ridge which divides the North and South Tomahawk, to the South Tomahawk, at the confluence of two branches where the old road to the Waterlick crossed it, and from that confluence up the Northernmost branch (which separates McDaniel’s and Perry’s fields) to it’s source, & thence by the shortest line to my Western boundary. and having, in a former correspondence with my deceased son in law John W. Eppes contemplated laying off for him with remainder to my grandson Francis, a certain portion in the Southern part of my lands in Bedford and Campbell, which I afterwards found to be generally more indifferent than I had supposed, & therefore determined to change it’s location for the better; now to remove all doubt, if any could arise on a purpose merely voluntary & unexecuted, I hereby declare that what I have herein given to my sd grandson Francis is instead of and not additional to what I have formerly contemplated.

I subject all my other property to the payment of my debts in the first place.

Considering the insolvent state of affairs of my friend & son in law Thomas Mann Randolph, and that what will remain of my property will be the only resource against the want in which his family would otherwise be left, it must be his wish, as it is my duty, to guard that resource against all liability for his debts, engagements or purposes whatsoever, and to preclude the rights, powers and authorities over it which might result to him by operation of law, and which might, independantly of his will, bring it within the power of his creditors, I do hereby devise and bequeath all the residue of my property real and personal, in possession or in action, whether held in my own right, or in that of my dear deceased wife, according to the powers vested in me by deed of settlement for that purpose, to my grandson Thomas J. Randolph, & my friends Nicholas P. Trist, and Alexander Garrett & their heirs during the life of my sd son in law Thomas M. Randolph, to be held & administered by them, in trust, for the sole and separate use and behoof of my dear daughter Martha Randolph and her heirs. and, aware of the nice and difficult distinctions of the law in these cases, I will further explain by saying that I understand and intend the effect of these limitation to be, that the legal estate and actual occupation shall be vested in my said trustees, and held by them in base fee, determinable on the death of my sd son in law, and the remainder during the same time be vested in my sd daughter and her heirs, and of course disposable by her last will, and that at the death of my sd son in law, the particular estate of sd trustees shall be determined and the remainder, in legal estate, possession and use become vested in my sd daughter and her heirs, in absolute property for ever.

In consequence of the variety and indescribableness of the articles of property within the house at Monticello, and the difficulty of inventorying and appraising them separately and specifically, and its inutility, I dispense with having them inventoried and appraised; and it is my will that my executors be not held to give any security for the administration of my estate. I appoint my grandson Thomas Jefferson Randolph my sole executor during his life, and after his death, I constitute executors my friends Nicholas P. Trist and Alexander Garrett joining to them my daughter Martha Randolph after the death of my sd son in law Thomas M. Randolph.

Lastly I revoke all former wills by me heretofore made; and in Witness that this is my will, I have written the whole with my own hand on two pages, and have subscribed my name to each of them this 16th day of March one Thousand eight hundred and twenty six. Th: Jefferson

I Thomas Jefferson of Monticello in Albemarle make and add the following Codicil to my will, controuling the same so far as it’s provisions go.

I recommend to my daughter, Martha Randolph, the maintenance and care of my well-beloved sister Anne Scott Marks, and trust confidently that from affection to her, as well as for my sake, she will never let her want a comfort.

I have made no specific provision for the comfortable maintenance of my son in law Thomas M. Randolph, because of the difficulty and uncertainty of devising terms which shall vest any beneficial interest in him which the law will not transfer to the benefit of his creditors to the destitution of my daughter and her family and disablement of her to supply him: whereas property placed under the executive right of my daughter and her independant will, as if she were a femme sole, considering the relations in which she stands both to him and his children, will be a certain resource against want for all.

I give to my friend James Madison of Montpellier my gold-mounted walking staff of animal horn, as a token of the cordial and affectionate friendship which for nearly now an half century, has united us in the same principles and pursuits of what we have deemed for the greatest good of our country.

I give to the University of Virginia my library, except such particular books only, and of the same edition, as it may already possess, when this legacy shall take effect. The rest of my said library remaining after those given to the University shall have been taken out, I give to my two grandsons in law Nicholas P. Trist and Joseph Coolidge.

To my grandson Thomas Jefferson Randolph I give my silver watch in preference of the golden one, because of it’s superior excellence. my papers of business going of course to him, as my executor, all others of a literary or other character I give to him as of his own property.

I give a gold watch to each of my grand children who shall not have already received one from me, to be purchased and delivered by my executor, to my grandsons at the age of 21. and grand-daughters at that of sixteen.

I give to my good, affectionate, and faithful servant Burwell his freedom, and the sum of three hundred Dollars to buy necessaries to commence his trade of painter and glazier, or to use otherwise as he pleases. I give also to my good servants John Hemings and Joe Fosset their freedom at the end of one year after my death: and to each of them respectively all the tools of their respective shops or callings: and it is my will that a comfortable log house be built for each of the three servants so emancipated on some part of my lands convenient to them with respect to the residence of their wives, and to Charlottesville and the University, where they will be mostly employed, and reasonably convenient also to the interest of the proprietor of the lands; of which houses I give the use of one, with a curtilage of an acre to each, during his life or personal occupation thereof.

I give also to John Hemings the services of his two apprentices, Madison and Eston Hemings, until their respective ages of twenty one years, at which period respectively, I give them their freedom. and I humbly and earnestly request of the legislature of Virginia a confirmation of the bequest of freedom to these servants, with permission to remain in this state where their families and connections are, as an additional instance of the favor, of which I have recieved so many other manifestations, in the course of my life, and for which I now give them my last, solemn, and dutiful thanks.

In testimony that this is a Codicil to my will of yesterday’s date, and that it is to modify so far the provisions of that will, I have written it all with my own hand, in two pages, to each of which I subscribe my name this 17th day of March one thousand eight hundred and twenty six. Th: Jefferson

Contact us today and let our Newport Beach law firm help you with all your financial planning needs.

Two wealth planning industry leaders, Matsen and Voorhees, join forces to provide the ultimate service

Asset Protection, Business Litigation, Business Planning, California Trusts, Domestic Asset Protection, Estate Planning, Foreign Asset Protection, Living Trust, Offshore Trusts, Probate, Real Estate, Retirement Planning, Tax Planning, Trust Litigation, Uncategorized, WillsNo Comments

DATE:

March, 2012

LOCATION:

Orange County California

SUMMARY:

Attorney Jeffrey R. Matsen of Wealth Strategies Counsel, one of the Nation’s ”Top 100 Attorneys”, and Tim Voorhees, JD, MBA,  a 34-year veteran of the advanced planning industry, have merged to form the Matsen Voorhees partnership. This new entity will operate as Matsen Voorhees, part of Bohm, Matsen, Kegel & Aguilera LLP.  The Voorhees-Matsen relationship will offer a broad array of resources to clients and advisers on each planning team. The merged law firm will emphasize Estate, Business and Asset Protection Planning as well as Real Estate and Probate services. Voorhees Family Office Services will continue to offer Zero-Tax Planning workshops, Wealth Blueprinting, Wealth Counseling, and Tax-Efficient Asset Management Solutions through its “TEAMS” affiliate. The service mark of the revised firm is, “Maximizing Value with Zero Tax and Asset Protection Planning.”

BODY:

Attorney Jeffrey R. Matsen has been designated by Worth magazine as one of “America’s Top 100 Attorneys,” by Los Angeles Magazine as one of California’s “Super Lawyers,” and by OC Metro Magazine as an “O.C.’s Top Lawyer. He is also listed in The Best Lawyers in America. The Nationally Renowned Attorney Rating Service, ‘AVVO’ has rated Mr. Matsen a perfect “10/10 Superb” and he has continued to achieve the highest “AV rating.“  He has been designated a “Preeminent Lawyer” by the only other prestigious attorney rating directory, Martindale Hubble. He is internationally recognized in the areas of Asset Protection, International Trusts and Offshore Business Entity Formation and has a myriad of world-wide legal, financial and business connections.

Matsen is the founding partner of Wealth Strategies Counsel (WSC), the Estate Planning and Business Transactions Department of the Orange County California premier law firm of Bohm, Matsen, Kegel & Aguilera, LLP with offices in Orange County California, Connecticut, New York City, Washing D.C., Detroit, Chicago, Kansas City, Salt Lake City, Boise, and Monterey/Carmel California, San Diego and Honolulu.  With over 35 years of experience, WSC handles complex and sophisticated asset protection, estate and business planning matters locally, nationally and internationally.  WSC serves a variety of clients by providing integrated solutions through advisors they can trust.  The WSC process fulfills clients’ wishes using a proven and tax advantaged process.

Attorney Tim Voorhees has 34 years of experience as a Wealth Counselor.  In addition to a Juris Doctorate with a concentration in corporate and estate planning, Tim holds a BA in economics and an MBA in finance.  Since focusing on zero tax planning in 1990, Tim has had key roles in planning several hundred cases for clients with net worths ranging from $3 million to over $1 billion.  His planning staff integrates any of more than 300 tactical planning tools into comprehensive plans that reduce or eliminate taxes, increase transfers to heirs, enhance charitable giving potential, or achieve other personal or financial goals.  Tim has a well-developed and effective process for coordinating a client’s advisors to develop plans using proprietary software.  Tim regularly publishes in Estate Planning Magazine, the Journal of Practical Estate Planning, Insurance News, the elite advisor website of Financial Planning Magazine, and other leading publications.  Tim has spoken at national conferences of the National Network of Estate Planning Attorneys, ALI-ABA, Kingdom Advisors, the Southern California Tax & Estate Planning Forum, etc. He has also presented at annual conferences for numerous financial advisory firms.

When interviewed, Jeff Matsen shared the following comments about the merger, “I am excited to partner with Tim!  The decision to merge our firms was made after considerable due diligence where I found Tim to be very professional and trustworthy with impressive knowledge, skills, connections and a talented team.  Perhaps the deciding factor is that I really like Tim and the way he conducts himself and his practice.  We have Co-counseled on a few clients and it was evident that we work well together and complement each other.  It is an honor and pleasure for me to be affiliated with Tim and to have a younger and vigorous partner who I know, not only can keep up with me and the demands of my practice, but will add considerable value to it.  Our combined expertise and resources provide a strategic advantage to our mutual clients,” stated Jeffrey R. Matsen, Founding Partner, Wealth Strategies Counsel.

Tim Voorhees shared the following comments about the merger, “We needed a world-class team of lawyers and paralegals to help us implement strategies in our Family Wealth Blueprints®.  While we have been honored to serve many of the top law firms and CPA firms around the country as a back office during the last 20 years, ultimately, our success depends on implementing our blueprints most effectively with support from a highly experienced legal team that knows our process.  We are honored and thrilled to tell our clients about the deep and broad capabilities now available through the Matsen Voorhees partnership.”

BRIEF BIO:

jeffmatsen small Use Two wealth planning industry leaders, Matsen and Voorhees, join forces to provide the ultimate serviceJeffrey R. Matsen of Wealth Strategies Counsel helps his clients structure their personal and business assets in the best way possible to preserve, protect, and transfer them in the most efficient and tax saving manner.

 

Tim Voorhees1 Two wealth planning industry leaders, Matsen and Voorhees, join forces to provide the ultimate serviceTim Voorhees of Family Office Services helps advisors plan for high-net-worth individuals, with a focus on zero tax and charitable planning issues of concern to individuals with estates of $3million or larger.

Contact us today and let our Newport Beach law firm help you with all your financial planning needs.

To our clients

UncategorizedNo Comments

On behalf of our legal team, we want to take this opportunity to say “Thank you” for trusting us enough to let us serve as your legal counsel.  We appreciate the privilege to serve you and look forward to providing for your legal needs in the future.  To better serve you, we have merged the services of our offices with nationally recognized attorney and Family Wealth Counselor, Tim Voorhees, and his Family Office Services staff.

Our comprehensive capabilities include:

  • Advanced Estate Planning
  • Asset Protection
  • Wealth Counseling
  • Integrated Legal, Investment and Financial Solutions
  • Year-End Tax Planning
  • Family Retreats
  • Retirement Planning
  • Income Tax Planning
  • Life Insurance Reviews
  • Creditor Protection
  • Executive Benefit Plans

 We believe you will be well served by the addition of Tim’s professional and capable team.  Please feel free to call our office if you have any questions regarding our services.

We are very pleased to announce that Jeff Matsen’s asset protection insight and expertise have been published in his new book, The Ladder of Success: An Asset Protection Planning Primer.

Jeff‘s straightforward and easy to understand description of the benefits of Asset Protection will assist both clients and advisors in planning to ensure financial security in the face of taxes, liability and creditor attacks.  Please visit www.matsenvoorhees.com/book to preview Jeff’s new book.  At the time of your next asset protection planning appointment you will receive a free copy of his book, our way of thanking you for our valued relationship.

We are currently offering a limited number of complementary evaluations of our clients’ insurance needs, wills, powers of attorney, health care directives and/or trusts. 

As you may know, the five million dollar gift and estate tax credit is scheduled to expire at the end of this year and revert back to 1 million dollars.  Many of you will be impacted by this and need to immediately review your estate planning.

Here are some of the other major life changes that require a review:

  • A job change or job loss
  • Retirement in the next 10-15 years
  • New grandchild or in-law
  • Selling of business or job transition
  • Upcoming business succession
  • Serious illness in the family
  • Divorce or marriage in family
  • Aging or seriously ill parent
  • New business partner
  • Real estate investment or 2nd home

If you or someone in your family has experienced any of these major transitions, or if you have not reviewed your trust for at least 5 years, it is vital that you review your plan to evaluate how current tax law changes and/or your major life changes may affect your trust and financial planning

Please let us know if you would like to schedule a meeting with Jeff about the asset protection benefits explained in his new book, to schedule a planning review or to request an initial consultation.  If you prefer you may also e-mail us at: info@matsenvoorhees.com.  If your need is urgent, feel free to call our office at 800-447-7090 and request an appointment to meet right away.

Contact us today for individualized planning strategies to meet your unique needs.

Book Review

UncategorizedNo Comments

Fotolia 40424681 Subscription Monthly XXL 150x150 Book ReviewAs many of you are aware,  I published “The Ladder of Success: An Asset Protection Primer” over a month ago and we have had some very favorable reviews.  We included some of these in our book but we have received quite a few more on Lulu.com where the book can be purchased.  For your convenience we have posted them here:

Jeff Matsen is a colleague and friend who is not only an expert to the experts in the asset protection field but also succinctly describes what won’t work, what might work, and what should work in an understandable way.  Those seeking asset protection often share common characteristics such as wealth, business ownership, real estate ownership, considerable income and estate tax exposures, as well professional practice ownership – and I recommend they read Jeff’s book to protect their families. — Joseph J. Strazzeri, Esq.; Fellow, Southern California Institute; Co-founder, Laureate Center for Wealth Advisors

Jeff brings decades of wisdom to the design and drafting of legal instruments.  He knows how to preserve assets in structures that help wealth holders minimize downside risk.  Moreover, because of Jeff’s broad multi-disciplinary experience, he knows how to integrate protection from lawsuits with protection from taxes.  Jeff’s ability to combine creditor protection with tax planning helps clients accumulate more wealth and maximize upside potential.  Perhaps most important, Jeff knows how to create trusts that reflect the unique vision and values of each client.  – Tim Voorhees, JD, MBA.

His knowledge, wisdom and direct experience helping thousands of professionals, executives, business owners, physicians, dentists, and other high net worth clients over his long career have truly made him one of the elite group of top experts in his field. If you are concerned about protecting your assets from creditors and predators and want to leave a legacy for future generations, I highly recommend you read this book and then give Jeff Matsen a call. — Stephen Fairley; CEO of The Rainmaker Institute, LLC, The Nation’s Largest Law Firm Marketing Company

Having worked closely with Jeff on a number of complex and important asset protection cases, it is abundantly clear that nobody understands the nuances and practicalities of this area better than he.  His unique ability of making issues clear for clients and their advisors is a gift.  This book is required reading for any layperson or professional who wants to learn more about asset protection and more importantly, take action.  — Noted Estate Planning attorney, Bill Deitch

Jeff is widely recognized in the legal community as an asset protection guru.  In this book, Jeff does a wonderful job of explaining the principals and strategies of complex asset protection planning in a very clear and easy to understand way.   — Nationally recognized estate planning attorney, Marc Selden, of New York City

—-

By Rhonda Miller, Attorney:  This book is insightful, easy to understand and full of good information. Whether you are someone who has accumulated wealth and needs to learn how to safeguard your own assets, or you are a professional whose job it is to manage your clients’ wealth, this book is a must-read. It guides the reader through the basics of asset protection planning and will serve as a valuable first step in developing a comprehensive plan with the aid of a qualified attorney who is well-versed in the area of asset protection planning. –Rhonda A. Miller, J.D.

By Ron Robison, Retired Business Executive:   In this book, Mr. Matsen provides a user-friendly road map to asset protection. Anyone who has significant or even modest net worth and wants to pass some assets on to the next generation will find this book a valuable guide to aide in that process. I particularly liked the index and the examples, and I have referred to the book a number of times since I first read it. Even with all the information included here, it has made me realize that the services of a professional attorney to sort out the best structure for each individual family situation are worthwhile.

By John Massih, Attorney:   Easy to read, jammed full of practical info. A must-read for folks interested in asset protection.

By Laura Meier, Attorney:   Jeffrey Matsen’s book is the perfect read for busy professionals and business owners wanting a basic understanding of the importance of asset protection, and the best methods for properly protecting your family, wealth, and assets.

By John Spiezia, Corporate President:   There are many estate planning and asset protection books available in the market today, but none has been written in such a straightforward and informative manner as attorney J. Matsen’s popular book, The Ladder of Success. In this book, nationally-renowned expert J. Matsen simplifies and explains otherwise complex concepts of estate planning, entity formation, tax planning and the critical area of asset protection and provides various approaches and strategies that every individual, business owner, corporate executive and professional should consider in protecting and transferring their assets effectively to their loved ones. What distinguishes this book most is its practical applicability in, rather than theoretical discussion of, the asset protection area. I highly recommend this excellent book to anyone who is serious about implementing maximum protection of their assets.

By Brenda Geiger, Attorney:   Jeff’s new book is easy to read and jam packed with valuable information on asset protection. I will be recommending this book to clients as a primer.

By Jonathan A. Mintz, Chief Operating Officer WealthCounsel | The Advisors Forum:   I enjoyed this book very much and offer the following testimonial if it is helpful. In The Ladder of Success: An Asset Protection Planning Primer, Jeff Matsen offers a no-nonsense, plain-English approach to both the need for asset protection and a spectrum of simple through complex strategies to implement that planning. I highly recommend it.

By Ken H. Vanway Jr., Attorney:   I have had the good fortune to work with and learn from Jeffrey R. Matsen. Jeff is a master communicator educated and experienced in the legal art of Asset Protection having assisted hundreds of clients; His book, “The Ladder of Success” An Asset Protection Planning Primer” unveils the secrets of the wealthy. A must-read in this day and time of 80 million lawsuits, 50% divorce rates and financial uncertainty.

By Kyle A Krasa, Attorney:   I know author and attorney, Jeff Matsen, very well, both professionally and personally. He is well-regarded among fellow attorneys as one of the country’s leading experts on asset protection. This book reflects Jeff’s skill in articulating complex legal issues in an easy-to-understand format. This is a must read for anyone who is serious about protecting their hard-earned assets.

Contact us today and let our Newport Beach law firm help you with all your financial planning needs.

 

“Nations Top 100 Attorney” Publishes Insightful New Book

Asset Protection, Business Litigation, Business Planning, California Trusts, Domestic Asset Protection, Estate Planning, Foreign Asset Protection, Living Trust, Offshore Trusts, Real Estate, Retirement Planning, Tax Planning, UncategorizedNo Comments

New Book Helps You Plan for and Protect Your Assets

Book RGB online1 e1334601969431 “Nations Top 100 Attorney” Publishes Insightful New Book Orange County, California (March 29, 2012) – There are few things in life more certain than death and taxes and perhaps, in today’s society, Law suits.  However, the fact is few people actually plan for them.

In the New Book The Ladder of Success: An Asset Protection Planning Primer, Attorney Jeffrey R. Matsen (“Top 100 Attorneys in U.S.” Worth Magazine) has provided a straightforward and elementary description of what Asset Protection really is and demonstrates how it can be effectively implemented by taking various steps, like rungs on a ladder, to truly climb the ladder of success.

“The one constant over the many years of my practice and among the hundreds of different clients I have served is the imbalance of, on the one hand, their profound concern regarding Asset Protection, and on the other, their lack of understanding as to how to implement it,” says Attorney Matsen. “I have dedicated my career to assisting these clients in planning the fortification of their resources to ensure their financial security in the face of taxes, liability and creditor attacks.”

The Ladder of Success: An Asset Protection Planning Primer explains:

  • Why Plan?  The Need for Asset Protection
  • The Limitations
  • The Operating Business Entity
  • Basic Estate Planning
  • Bankruptcy Considerations, Exemptions and Marital Planning
  • Liability Protective Entities for Investment Assets
  • Domestic Asset Protection Trusts and Modular Planning Utilizing LLCs
  • The Offshore Asset Protection Trust and the Modular Planning that Accompanies It
  • Advanced Estate Planning Techniques
  • Special Issues and Strategies for Physicians and Dentists
  • Climbing the Ladder and Putting It All Together

Chock full of authoritative information about estate planning and asset protection, The Ladder of Success: An Asset Protection Planning Primer is one book every conscientious person should own.  “Nobody understands the nuances and practicalities of this area better than Jeff Matsen.  His unique ability of making issues clear for clients and their advisors is a gift.  This book is required reading for any layperson or professional who wants to learn more about asset protection and more importantly, take action,” says Bill Deitch, Leading Estate Planning Attorney, Chicago.

“Jeff Matsen is an expert to the experts in the asset protection field.  Those seeking asset protection often share common characteristics—such as wealth, business ownership, real estate ownership, considerable income and estate tax exposures, as well professional practice ownership—and I recommend they read Jeff’s book to protect their families,” states Joseph J. Strazzeri, Fellow, Southern California Institute; Co-founder, Laureate Center for Wealth Advisors.

Tim Voorhees, JD, MBA President, Family Office Services;  Principal, Matsen Voorhees, Orange County, CA. explains “Because of Jeff’s broad, multi-disciplinary experience, he knows how to integrate protection from lawsuits with protection from taxes. Jeff’s ability to combine creditor protection with tax planning helps clients accumulate more wealth and maximize upside potential.”

“Jeff Matsen is one of the best estate planning and asset protection attorneys in the country.  His knowledge, wisdom and direct experience have truly made him one of the elite group of top experts in his field. If you are concerned about protecting your assets and want to leave a legacy for future generations, I highly recommend you read this book,” says Stephen Fairley, CEO of The Rainmaker Institute, LLC, The Nation’s Largest Law Firm Marketing Company.

Marc Selden, Nationally Recognized Estate Planning Attorney, New York City, states “Jeff is widely recognized in the legal community as an asset protection guru.  In this book, Jeff does a wonderful job of explaining the principles and strategies of complex asset protection planning in a very clear and easy-to-understand way.”

The Ladder of Success: An Asset Protection Planning Primer,  $19.95, Paperback 179 pages, ISBN 978-0-9852041-1-2, is published by Wealth Strategies Counsel, and is available by calling 714-384-6527 or by visiting www.matsenvoorhees.com/book .

 

ABOUT  JEFFREY R. MATSEN

JEFFREY R. MATSEN, JD, received his law degree with honors from the UCLA School of Law and served as a Military Judge with the rank of Captain in the US Marine Corps.  Matsen has been a Professor of Law in Business, Estate Planning and Advanced Taxation. He is a highly sought-after and respected speaker and educator and has published numerous legal articles.  Matsen is the founder of “Wealth Strategies Counsel,” the Estate Planning and Business Transactions Department of Matsen Voorhees and Bohm, Matsen, Kegel & Aguilera, LLP, in Orange County, California.  His practice areas include: Business and Estate Planning, Asset Protection, Probate and Trust administration and litigation, Real Estate and Offshore structures.  Matsen has been designated one of the Nation’s “Top 100 Attorneys” by Worth Magazine, A “Super Lawyer” by Los Angeles Magazine and he is listed in The Best Lawyers in America.  The Nationally Renowned Attorney Rating Service, AVVO, has rated Matsen a perfect “10/10 Superb.” Besides continuing to achieve the highest “AV rating,” he has been designated a “Preeminent Lawyer” by the prestigious attorney rating directory, Martindale Hubble.

Let our Costa Mesa law offices help you get started by contacting us today.

Asset Protection Planning: The Essentials And The Cutting Edge

UncategorizedNo Comments

 

An Exciting and Extremely Topical Webinar Series!

Never before has Asset Protection Planning been so important and critical. Over the last few decades expanding theories of liability and the proliferation of litigation has given increased emphasis to Asset Protection Planning to the extent that it is now a well recognized area of practice. Potential liability and lawsuits are a major concern to business owners, real estate investors, professional and other persons of wealth.

All lawyers should have some basic understanding of Asset Protection Planning but especially Estate Planning and Business lawyers. In fact, Estate Planning attorneys may have a duty to address Asset Protection Planning with all their Estate Planning clients.

Obviously, this is another source of revenue for your practice and can increase and grow revenues substantially. Moreover, Asset Protection Planning flourishes in down economies and is an integral part of providing Estate and Business Planning services to clients.

There are basic and fundamental concepts and techniques as well as more advanced and cutting edge strategies that you need to understand and learn. The result will be higher revenues for your practice and the opportunity to provide better services for your clients.

During this webinar series, you will:

  • Develop a better understanding of what Asset Protection Planning is and why it is so important
  • Find out about the various limitations involved such as the fraudulent transfer laws and bankruptcy considerations
  • Learn about creditor’s rights and remedies
  • Find out about how to utilize Limited Liability Companies as part of the Asset Protection structure
  • Find out what a Charging Order really is
  • Learn about Domestic and Offshore Asset Protection Trusts
  • Study actual case studies with example for Attorney-Processing and follow through

Nationally renowned Estate and Asset Protection Planning attorney, Jeffrey R. Matsen, will present this important and very practical course in four different one hour sessions. Each separate one hour presentation will be offered on two different dates.

Sign up for any of the individual sessions that fit into your schedule for a low price of $97 each or all four sessions for a discounted price of $297. Each teleconference is 60 minutes and comes with a PowerPoint presentation and a Certificate of Completion for CE credit*. See below for more details about the course and each individual session and to make your selection.

Hurry!  There are only 100 spots for the live sessions

(You can still order the recording and materials)

Session One

The first session will be an Overview and Introduction to Asset Protection Planning and will include the various limitations involved such as the Fraudulent Transfer Laws, Bankruptcy Considerations and an Analysis of Creditors Rights and Remedies.

Tuesday, January 17, 2012 From 11am to 12:00pm Pacific

-Or-

Thursday, January 26, 2012 From 11am to 12:00pm Pacific

Just $97

Click to Order Session 1 Only!

Session Two

The second session will discuss Business Entity Structures and, in particular, the Utilization of LLCs and Limited Partnerships and will treat such issues as the Charging Order, LLC Forum Shopping, Single Member LLCs and the Series LLC.

Thursday, February 9, 2012 From 11am to 12:00pm Pacific

-Or-

Wednesday, February 15, 2012 From 11am to 12:00pm Pacific

Just $97

Click to Order Session 2 Only!

Session Three

The third session will focus on Domestic Asset Protection Trusts and the Modular Structure combining such Trusts with LLCs. The considerations involved in going Offshore and Offshore Asset Protection Trusts will also be presented.

Tuesday, March 6, 2012 From 11am to 12:00pm Pacific

-Or-

Wednesday, March 14, 2012 From 11am to 12:00pm Pacific

Just $97

Click to Order Session 3 Only!

Session Four

The fourth session will wind up the Course with actual case studies and examples of attorney processing and follow through.

Thursday, April, 5, 2012 From 11am to 12:00pm Pacific

-Or-

Wednesday, April 11, 2012 From 11am to 12:00pm Pacific

Just $97

Click to Order Session 4 Only!

All Four Sessions

Just $297

Click to Order All Sessions!

-or-

Call 714-384-6527

ABOUT THE SPEAKERS

 

jeffmatsen small Use Asset Protection Planning:  The Essentials And The Cutting Edge

Jeffrey R. Matsen

Jeffrey is the founder and partner in charge of Wealth Strategies Counsel, the Estate Planning and Business Transaction Department of Bohm, Matsen, Kegel & Aguilera, LLP in Orange County CA. His practice areas include, Business and Estate Planning, Asset Protection, Probate and Trust administration and litigation, Real Estate and Off shore structures.

Attorney Matsen is designated by Worth Magazine as one of America’s Top 100 Attorneys“, by Los Angeles Magazine as one of California’s Super Lawyers and hHe is listed in The Best Lawyers in America. The Nationally Renowned Attorney Rating Service, ‘AVVO‘ has rated Mr. Matsen a perfect “10/10 Superb” and he has continued to achieve the highest “AV rating” and has been designated a “Preeminent Lawyer” by the prestigious attorney rating directory, Martindale Hubble.

Jeff has been a Professor of Law in Business, Estate Planning and Advanced Taxation. He is a much sought after and respected, Speaker and Educator and has published numerous legal articles.

Jeff served on the Board of Directors of the local Boys and Girls Club. He managed Little and Pony League baseball, and coached basketball for nearly 30 years. He was named Orange County’s Father of the Year 2007 by the Father’s Day Council and the American Diabetes Association.

He currently serves on the Board of Counselors of the Orange County Pacific Symphony Orchestra and as Vice Chairman of the Rancho Del Mar District of the Boy Scouts of America.

Jeff is admitted to practice in all courts in the State of California; the United States District Court (Central District); the United States Supreme Court; and the United States Tax Court.

marc Selden small Asset Protection Planning:  The Essentials And The Cutting Edge

Marc Selden

Attorney Selden is the Principal & Founder of Eagle & Selden, P.C. in Manhattan. His Practice Areas include Estate Planning, Asset Protection & Business Succession Planning.

The Nationally Renowned Attorney Rating Service, ‘AVVO‘ has rated Mr. Selden a perfect “10/10 Superb“,

Marc is an Instructor for the National Business Institute; Resident Faculty of the Laureate Center for Wealth Advisors, President and Founding Member of Wealth Counsel’s New York/New Jersey Forum; and is a Charter member of Wealth Counsel’s Speakers Bureau. He has also been published as a Contributing author.

Marc is Admitted to the New York State Bar; United States District Court, Southern & Eastern Districts of New York.

(Session Three)

 Massih John.small  Asset Protection Planning:  The Essentials And The Cutting Edge

John N. Massih

Attorney Massih is the founder and managing member of Massih Law, LLC. in Connecticut.  His Practice focuses on Estate , Business Planning and Asset Protection.

Experienced in the Fortune 50, public finance and venture capital arenas, which have provided a unique perspective in his practice and an understanding of business transactions and tax matters from the position of a business owner.

Attorney Massih lectures across Connecticut on Asset Protection and Estate Planning Strategies. He is a Board Member of the Financial Planners Association of Fairfield County, CT, and a member of the American Bar Association, the Connecticut Bar Association and the Fairfield County Bar Association. He is also an active member of WealthCounsel.

Attorney Massih is further recognized in his community by various civic contributions including his role as a Board member of the White Ribbon Campaign associated with the Center for Woman and Families of Eastern Fairfield County, and a member of the Young Leaders Society of Coastal Fairfield County.

(Session Two)

What attendees of our seminars say:

“Wonderful -Knowledgeable speaker…”

“Jeff’s humor made it enjoyable to learn…”

“Excellent presentation…”

“Mr. Matsen is definitely a master of his craft…”

“It was well worth my time…”

*CE CREDIT IMPORTANT NOTICE: Wealth Strategies Counsel is NOT an approved Continuing Education Sponsor. However, participants may may still receive continuing education credit through their states and regulatory agencies. A Certificate of Completion will be provided to all attendees. If participants wish to receive CE credit, then they must apply to receive credit on their own and through their individual states and regulatory authorities. It is the responsibility of the participant to file for CE credit and is not guaranteed by Wealth Strategies Counsel or Jeffrey R. Matsen

FAQ (Frequently Asked Questions)

I can’t make it. How how can I still benefit?
You may still register for the program to receive the materials, including a recording of the session to review when convenient and at your pace (rewinding, pausing and fast forwarding). You can still benefit regardless of your calendaring conflicts, Don’t miss out.

When will I receive the conference materials and dial-in information?
Once you register, you will receive an email with dial-in instructions. Your password and Materials will be provided via email 48 hours before the program. If you have any questions or do not receive an e-mail, please contact Ty Mangrum at 714-384-6527.

If I haven’t received an e-mail with the dial-in information and materials. What do I do?
Double-check that the e-mail address (yours or the attendees) you provided is correct. Additionally, It is possible that your server may not be allowing our e-mails to come through or it may be in your spam filter. Contact Ty Mangrum at 714-384-6527 (Monday through Friday from 8:30am to 5pm Pacific) or, preferably, by e-mail at tmangrum@bmkalaw.com .

How many people in my office may participate?
An unlimited number of people in your office may participate provided that all participants connect on just one (1) connection per call. Only one (1) connection will be authorized per office per call.

Can I get CE for this program?
Wealth Strategies Counsel and all affiliated parties of this program are NOT CE Sponsors and do not guarantee CE credit for this program. Certain regulatory agencies approve CE from unregistered CE sponsors, which is why you are provided with a Certificate of Completion.

Contact us today and let our Newport Beach law firm help you with all your financial planning needs.

Save the Date: Super STEP Conference, Wednesday, January 25, 2012

Offshore Trusts, UncategorizedNo Comments

step logo1 Save the Date:  Super STEP Conference, Wednesday, January 25, 2012

The Society of Trust and Estate Practitioners (STEP)
SAVE THE DATE
Super STEP Conference
Wednesday, January 25, 2012
Live from the Shady Canyon Golf Club
100 Shady Canyon Drive, Irvine, CA 92603

  • Program commencing at 8:00 AM and concludes at 3:00 PM PST
  • Includes breakfast, lunch and networking reception from 3:00 – 4:00 PM PST
  • 6 Hours of MCLE and CE for CPAs, CFPs, and insurance professionals applied for
  • Admission Fee $ 275.00, check made payable to STEP-OC

Putting It All Together: Evaluation, Selection and Implementation Decision Making for Wealth Shifting Techniques; An Analytical, Actuarial, Financial and Practical Guide for the Conscientious Advisor” –  Jonathan Blattmachr, Esq., Retired Partner, Milbank, Tweed, Hadley & McCloy, LLP

Gifts By Foreign Persons To US Persons: Traps And Planning
Suggestions” – Professor Jerome Hesch, Esq., Director, Notre Dame University Tax Institute and Faculty Member,
University of Miami School of Law

The Challenges of an Aging Population” – Andrew J. Policano, Dean, The Paul Merage School of Business at the University of California at Irvine

The Care and Feeding of Domestic and International Family Offices” Timothy Speiss, CPA, Partner at Eisner Amper LLP (Recent winner of the STEP North American
Advisor of the year award).

You Have a Foreign Trust – When Trusts Are Deemed Foreign Trusts and the Tax and Reporting Implications of Foreign Trusts” –  Michelle Graham, Esq., Partner at Luce Forward, LLP

Program summary and suggested implementation of material presented. Translate the day’s proceedings into
billable hours – Renee Gabbard, Esq., Partner at Paul Hastings LLP,  Jeff Saccacio, CPA, Partner at Price Waterhouse Coopers LLP,

Reservation Form:
(Please print)
Name: _______________________ Telephone: ____________________
Firm: ________________________ Email: ________________________
Address: __________________________________________________________

Mail this form, along with your check payable to STEP-OC in the amount of $ 275.00 to: Mark P. Silberfarb,
TEP, CFP, Global Financial Institute, 18662 MacArthur Blvd., Ste. 200, Irvine, CA 92612.

Help is available to you by contacting your Southern California financial planning experts today.

« Previous Entries